Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

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Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Equity Capital Markets

This morning, multiple local news outlets reported that LG Chem and SK Innovation had finally reached a full agreement in the electric vehicle battery dispute.Official words will likely come out later today.<a href="https://www.sedaily.com/NewsView/22L1IC823K" target="_blank" rel="noopener">Here is the news link.</a>According to SED, multiple officials who are familiar with the issue confirmed in a call interview that the two companies had reached an agreement, including the amount of compensation, and are currently finalizing the announcement's format.<div class="content-highlight">
Legal battle summary between LG Chem and SK Innovation:
LG Chem (now LG Energy Solutions) filed a full complaint with the US International Trade Commission (ITC) in April 2019, claiming SK Innovation had infringed on its business secrets.
In February this year, the US ITC imposed a 10-year import ban, claiming that SK had violated the LG ES business secrets.
US President Joe Biden could veto the ITC's 10-year SK battery import ban, and the deadline is tomorrow.
</div>Why now?SK Innovation has reportedly concluded that President Biden wouldn't exercise his veto on this case (10-year import ban).SK is said to have even considered shutting down the US factory in Georgia after the end of next year. But given the importance of the US market and the US-based partners, it finally made a last-minute decision.

This morning, multiple local news outlets reported that LG Chem and SK Innovation had finally reached a full agreement in the electric vehicle battery dispute.Official words will likely come out later today.Here is the news link.According to SED, multiple officials who are familiar with the issue confirmed in a call interview that the two companies had reached an agreement, including the amount of compensation, and are currently finalizing the announcement's format.
Legal battle summary between LG Chem and SK Innovation:
LG Chem (now LG Energy Solutions) filed a full complaint with the US International Trade Commission (ITC) in April 2019, claiming SK Innovation had infringed on its business secrets.
In February this year, the US ITC imposed a 10-year import ban, claiming that SK had violated the LG ES business secrets.
US President Joe Biden could veto the ITC's 10-year SK battery import ban, and the deadline is tomorrow.
Why now?SK Innovation has reportedly concluded that President Biden wouldn't exercise his veto on this case (10-year import ban).SK is said to have even considered shutting down the US factory in Georgia after the end of next year. But given the importance of the US market and the US-based partners, it finally made a last-minute decision.

LG Chem & SK Innovation Reach an Agreement Right Before SK IET IPO Book Opens

LG Chem Ltd

LG Chem & SK Innovation Reach an Agreement Right Before SK IET IPO Book Opens